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Mother Line comes to rescue for the Nifty today but can it hold?Mother Line or the 50 days EMA comes to rescue for the Nifty today but can it hold? It looks little difficult due to the global Bear onslaught. In such situations we know from the Father, Mother and the small Child story that mostly Father line of 200 days EMA can provide proper support. However before we reach there and not necessarily we reach there as there are some important supports for Nifty. The other supports for Nifty from where it can potentially make a turnaround seem to be at: 23963 (Mother Line provides support again / Support confirmation), 23673 is the mid channel support, 22788 to 22641 is also a good support zone. Below 22641 we have Father line support at 22242. Final support for Nifty is 21879. Resistances on the upper side are now at 24214, 24342 and 24714. Shadow of the candles are still dark red. To know more about the father, mother and small child story read my book The Happy Candles Way to wealth creation available on Amazon in Paperback and E-book version. The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
#Nifty50 analysis for upcoming week 5th-9th Aug 2024#Nifty50 stumbled this week, closing at 24717, a 110-point drop from the previous week. While it danced between 25078 and 24686, staying true to its predicted 25400-24300 range, underlying daily chart weakness is undeniable. Yet, the weekly and monthly perspectives remain bullish. Expect Nifty to continue its tightrope walk between 25000 and 24400 next week. A breakout on either side could ignite significant volatility. A potential support level of 24400 might be a sweet spot for new long positions. However, the looming RBI policy announcement on August 8th could trigger another selling wave. Until then, cautious optimism and controlled positions are key. Meanwhile, the S&P500 experienced a 5% correction from its 5566 peak, finding support at the WEMA21 level of 5300. If this support holds, a fresh upward rally towards 5400, 5433, 5500, or even 5566 could be on the cards, potentially buoying Indian markets. Let me know your views in the comments section. thanks for reading
NSE:NIFTY
by ssudhirsharma11
Major Global Events unfolding. Be Alert!Major Global Event 1): Conflict in the Middle East is heating up with possibility of direct conflict between Iran and Israel increasing by every hour. Major Global Event 2): Japan has increased the interest rate by 0.25%. This is just the second hike in 17 years. Now US FED increases or decreases rates to control and Monitor inflation this happens and it has global consequences. Similarly Bank of Japan's move is huge. The money that Japanese investors were investing (And Japan has big investors) was almost at 0 to negligible interest rate. Now there is a possibility that they sell big across the globe. Consequences on Indian Market: India is in much better position to tackle these events economically but still we can not be immune to such events of mass scale. There is a very big chance of temporary effect on Indian indices. Over the long run these uncertainties will have less effect. In the medium to long run India is a bull market and will remain so. Panic selling should be avoided but keep your stop losses in place to protect the capital. Keep Trailing stop losses in place to guard your profits. Cash and money in hand is also a good position sometimes in the market. Nifty Supports Remain at: 24407, 23960 is the 50 Days EMA or mother line, 23283 and 22224 is the 200 days EMA or Father line. Below this line Bears can absolutely over power Bulls. Final Support For Nifty will be at 21879. Nifty Resistances remain at: 24904, 25037 and recent high of 25078. This message is not to instill fear or knee jerk reaction but it aims to make you conscious about the Macro events that can affect your portfolio. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
As mentioned yesterday Profit Booking was seen post new High. As we had discussed in yesterday's message after making a new high of 25078 there was strong profit booking in many stocks specially Mid, Small and Micro caps. Market breadth turned negative with 784 advances Vs 1588 declines. This is a natural phenomenon and we cant surely say how long the profit booking can go on. Nifty actually did well to close above 25K at 25010. 25037 was mentioned as a strong resistnace. Nifty momentarily went above it but could not sustain the levels. Nifty made a low of 24956 and bounced back. We had again indicated that 24957 was a good support. (yesterday's Message). Same level is the key as Nifty can again try to confirm it's bottom for consolidation. In case 24957 is it's temporary bottom Nifty can rise further and again take an aim at closing above previous high of 25078. Supports for Nifty remain at 24957, 24887 and the zone between 24833 and 24806(Mother line). If we get a closing below 24806, 24773 or 24661 might come in play. Resistances for Nifty remain at 25037, 25078 and 25116. The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Good Positive move by Nifty today trying to clear deck for 25K.Good Positive move by Nifty today trying to clear deck for 25K. Nifty right now is in no mood to stop but traders and investors should be very clear with the stop losses and Trailing stop losses as we have seen that when a new Peak or significant Psychological target is achieved there can be a bout of profit booking. Nifty may again dive downwards to find and confirm it's significant support. Investors should keep this in mind. Supports For Nifty right now seem to be near: 24942, 24887, 24833, 24773, 24741 (Very important Mother Line Support of 50 hour's EMA), below Mother line we have mid channel support at 24661. Below 24661 bears can awaken from coma and have potential drag the nifty till 24496 or even 24375. The final support zone for Nifty is between Father line (200 Hour's EMA) at 24282 and Channel bottom near 24250. Below 24250 can be pure bear territory. Resistances for Nifty remain at: Zone near previous high between 24985 to 24999 crossing which the next resistance will be near 25037. If we get a closing above 25037 Nifty can reach 25116. Major trend top as well as channel top seems to be between 25174 to 25200 range. Trade and invest with caution. Stoplosses are our friends which protect our capital. Trailing stop losses are our best friends which protect our Profits. To know more about Mother Father line and their significance and to learn Techno Funda analysis we recommend you read the book The Happy Candles Way. Which is available on Amazon on paperback version. Kindle version of the same book is also available on Amazon Kindle. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Nifty again tried to conquer 25K but unsuccessful Nifty again today tried to conquer 25K but fell short and reversed from 24971. Twice unable to conquer 25K has formed a temporary Double top type structure indicating weakness not massive but just a little bit. Weakness can creep in if the 24833 and 24773 are broken. Resistances on the upper side remain at 24887, 24957, 24999 and 25037. If 24773 is broken Nifty becomes meaker and then the supports remain at 24676 (Mother Line or 50 EMA Support). 24599 will be the mid channel support. Below 24599 the major supports will be at 24496, 24375 and 24234 (200 EMA support or Father line support.) Below 24234 Bears will totally try to dominate the proceeding.
NSE:NIFTY
by Happy_Candles_Investment
24773 is a critical support to watch going forward. 24773 is a critical support to watch going forward. If that support is not broken tomorrow or later this week we can see upside once again with resistances at 24871, 24957, 24999 (today's high) and finally 25037. Supports at the lower side are at as mentioned 24773, 24661, 24606 (50 hour's EMA (Mother Line) merging with Mid channel support. Making this support as another major critical support after 24773. Below 24606 bears will get back to business and can further drag the Nifty to 24496 or even 24375. The rally can turn around and loose steam completely if we get a closing below the final support zone of 24218 and 24186(200 hour's EMA father line). Channel bottom is also round about that area.
NSE:NIFTY
by Happy_Candles_Investment
Fibonacci sequence drawn on recent peak/bottom shows upsideThe Fibonacci sequence when drawn on recent peak and valley is showing a decent upside still if a major trend line resistance near 24967 is crossed and we get a closing above it. In such a scenario the peak of the current up trend seems to be near 25593. We have got a decent closing above an important fibonacci level of 24707. This becomes an important support now. Below 24707 the significant support levels are 24091, 23931, 23757 (50 days EMA, Mother line)(Read my book The Happy Candles Way available on Amazon to understand more about the Mother father and the small child concept/story.) If we get a closing below 23757, 23400 and 22814 are major support before we hit 200 day EMA or father line at 22088(Below which Bears will be in full power but we are far away from that zone as of now).
NSE:NIFTYLong
by Happy_Candles_Investment
NIFTY Pre - Budget Surge : Caution Ahead...!Hello Traders, I hope you are all thriving both in your trading endeavors and in life. Today, I bring you an exciting opportunity with a new analysis of NIFTY that's poised for a significant move. Our in-depth analysis reveals that... NSE:NIFTY As anticipated and previously mentioned, the past week ended on a negative note (pre-Budget). This week holds the potential for new highs. However, caution is advised, as this will likely be the final move in the sequence that began on October 23, 2023. It is prudent to brace for an impending correction. Here are the technical details: I. Resistance I: 24,854.80 ~ 24,910 (conj. Extended trend line from March 20, 2023) II. Resistance II: 25,120 (Extended trend line from June 1, 2022) III. Resistance III: 25,460 (Extended trend line from January 24,2024). ***Please note that these values are not actual but indicative levels of support and resistance. A Gann ideology is that , the move from October 26, 2023 is also facing a time resistance of 270 days (90*3) which is an important number not to consider it lightly. Furthermore, for the move from March 20, 2023 it is 490 days (360+90+45 or 135) which is also an additional reason factored in to be more cautious! Following this, the market is expected to take a breather, with profit booking potentially dragging the markets to deeper levels before any new uptrend is initiated (The correction in monthly scale can be anticipated). Further details will be discussed as the market evolves. Strategy: Being bullish at this juncture seems prudent, only till R II (for conservative / Defensive) & RIII (for Pro-active / Enterprising). Disclaimer: Before we conclude, I want to remind everyone that the insights shared here are based on my own analysis. It's crucial that you perform your own research and, if necessary, consult with a financial advisor before making any trading decisions. The financial markets are dynamic, and it's important to ensure that your strategies align with your personal financial goals and risk tolerance. =========================================================== Dear Traders, If you appreciate my work, please don’t forget to like and follow me. I would also love to hear your thoughts on this idea in the comments section and will be delighted to respond to each one. Thank you for reading the article. HAPPY TRADING
NSE:NIFTYLong
by WDG_Dinesh_Gengarajan
Positive from today: RSI getting stronger, Trendline crossed.Support and resistances for Nifty almost remain the same after action today but the positives are that RSI is getting stronger, Trendline resistance is crossed and an additional support at 24210 is gained. The obstacle still remains at Mother Line that is 50 hours EMA currently at 24455. For Nity to be bullish we need a closing first above 24455 and then above 24525. Supports For Nifty: 24307, 24210 and zone between 24094 and 24074 is very strong support zone as it includes Father line (200 Hours EMA.) Resistances for Nifty: 24455 (50 hours EMA or Mother Line), 24525, 24584, 24686 and finally 24842. Note:- To know more about Father mother and the small child story and it's connection to 50 and 200 EMA read The Happy Candles Way to Wealth creation available on Amazon. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Tale of 2 cities. Unseeing this would be difficult once you see this. The rage that I have drawn here is an exact 3000 point expansion in Nifty spot and Nifty Fut. Both are trading in the top quadrant. 100% and 50 % and both curiously the same: 24841 and 24100. I am not taking sides. If it breaks lower, it could test 24100 again. If not, it could either consolidate in the upper quadrant OR break higher. The run up to the budget had huge expectation of Capex in infra, railways, shipbuilding and fertilizer stocks. We need to see how they fare tomorrow. I am not sure what the industry expectations were. I will watch out for these levels to take trades. One Key parameter I follow is advance decline ration. That has improved to 962:1374 today. Should I look UP? I don't know Should I look down? I really don't know. The 2 cities to watch out for are 24841 and 24100.
NSE:NIFTY
by OldMonk13
Market tried to recover after forming a temporary bottom 24362.Market tried to stage a recovery after forming a temporary bottom near at 24362 to close at 24509. The recovery was good 147 points from lows of the day but ended just below 50 hours EMA Mother line which is at 24527. Closing above 24527 can help further recovery. Supports for the Nifty remain at 24465 and 24362. If 24362 is broken the only substantial support will be 24140 and Father line (200 hours EMA at 24021). Resistances on the upper side are 24527 (high and mighty Mother line of 50 Hours EMA also a trend line resistance) followed by 24587, 24660 and 24734. 24854 is the final number to conquer before we can reach 25K. To know more about Mother and Father line resistance/support and other aspects of investing please buy and read The Happy Candles Way to wealth creation. (Book Available on Amazon). With First budget of NDA 3.0 tomorrow there are chances of volatility as market expectations are high and there is also a fear of additional STT. There is also lingering action pending on F&O trades about which both finance ministry and RBI are apprehensive. It will be interesting to see what action is taken on this front. Additionally sectors like FMCG, Health care, Energy, Railway, Fertilizers, Pharma, Speciality Chemicals, Metal and IT also have lot of expectations from the budget. Policy around EVs can also help or disharten Auto sectors. Infra, Defense and Reality space will also be looking at the budget with beating heart. This is seen as make or break budget in many ways for the market with impeding correction looming large. Overall market is expectant with possibilities of lot of sectoral trends emerging from the upcoming budget tomorrow. The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Nifty closed just below 50 hours EMA.Nifty has closed 1 point below the 50 Hour EMA at 24530. (Mother line) - to know about the Mother, Father and Small Child story read The Happy Candles Way to Wealth creation available on Amazon. Supports for Nifty now remain at 24509, 24359, 24211 and 23985. (23985 is a very important 200 hours EMA support). Resistances for Nifty will be at 24351 (50 hours EMA), 24599 and channel top resistance near 24854. Hourly RSI has cooled down from 70 which was on 18th July to 42.5. RSI support is at 38.07 and 22 levels these are the two levels after reaching which there can be a chance of a bounce back. As of now shadow of the candle is weak red.
NSE:NIFTY
by Happy_Candles_Investment
Nifty crosses strong resistance, Medium term target 25K+ open.Nifty crosses strong resistance of 25720 for the first time. This opens the door for medium term target 25K+. Although there are few more important resistances to cross before this happens. The important resistances now are at 24837, 24887, 24937 and 25024. Top of the channel now seems to be at 25243. The support for nifty if it decides to cool the RSI seems to be at 24720, 24593 and 24508 (50 Hours EMA, Mother Line) (To Know about Mother Father and Small Child story - Read the Book Happy Candles Way to wealth creation). Post 24508 the only major support is 24462. Below this level (24462) bears can awaken.
NSE:NIFTY
by Happy_Candles_Investment
Today's high 24661 a strong resistance point to watch out for. Today's high 24661 a strong resistance point to watch out for. If Nity is not above to close above this level then we can see the fizz of the current rally going out and Nifty can go searching for supports in the short term. If we get a closing above 24661 the top of the trend seems to be near 24726 for now. Supports for Nifty seem to be near 24593, 24526, 24476 and the zone between 24443 (50 Hours EMA) and 24404. Below 24404 closing the bears will get some breathing space and can pull nifty further down.
NSE:NIFTY
by Happy_Candles_Investment